Senior Life

[myinsurebiz]

I guess you are correct as far as being behind on the commissions. I see that they cut the Standard commissions though. LOL!

Still though, the only product that is remotely competitive is the Super Preferred product. Not even the Preferred is competitive. So, since most people cannot qualify for the Super Preferred, you're still left offering a sub par product! Oh wait! Next you're going to point out how you can write everyone with SL. Yeah, that may be true but it does not mean it's a good product for them.

Standard has decent rates for Smokers.

 

[theinsuranceman]

I guess you are correct as far as being behind on the commissions. I see that they cut the Standard commissions though. LOL!

Still though, the only product that is remotely competitive is the Super Preferred product. Not even the Preferred is competitive. So, since most people cannot qualify for the Super Preferred, you're still left offering a sub par product! Oh wait! Next you're going to point out how you can write everyone with SL. Yeah, that may be true but it does not mean it's a good product for them.

Todd, you sound as if you are intimidated by SL. I know you have to try to make it look bad as you don't offer your agents anything except a contract.....lol.

Super preferred and preferred are not that difficult to qualify for. Probably 50% do. Now, exactly how much SL have you written? You've written ZERO, so how would you know anything about the % of people who would qualify for any of the plans?

To correct you on the commission schedules:
Super-preferred went up 34.5 points with higher life time renewals
Preferred went up 12.5 points with higher renewals
GI went up 17.5 points with renewals of 7.5% 2-5, 5.5% 6-10, 4% 11+
Standard went down by 15 points

This is a huge increase in what agents are making compared to before. When you comment about things that you know very little about it makes you less credible.

 

[NSRH]

Everyone knows Senior Life has a reputation.

Why would any independent agent ever sell for them?

In fact, from my experience, the only agents that do sell for them are the ones that 1.) dont know what other options are available to them or, 2.) cannot get contracted elsewhere.

They offer below street contracts, and above retail prices on leads.

 

[theinsuranceman]

Everyone knows Senior Life has a reputation.

Why would any independent agent ever sell for them?

In fact, from my experience, the only agents that do sell for them are the ones that 1.) dont know what other options are available to them or, 2.) cannot get contracted elsewhere.

They offer below street contracts, and above retail prices on leads.

And everyone knows you have a reputation! And I believe you offer 40% contracts! LOL

 

[Mattschmidt]

Todd, you sound as if you are intimidated by SL. I know you have to try to make it look bad as you don't offer your agents anything except a contract.....lol.

Super preferred and preferred are not that difficult to qualify for. Probably 50% do. Now, exactly how much SL have you written? You've written ZERO, so how would you know anything about the % of people who would qualify for any of the plans?

To correct you on the commission schedules:
Super-preferred went up 34.5 points with higher life time renewals
Preferred went up 12.5 points with higher renewals
GI went up 17.5 points with renewals of 7.5% 2-5, 5.5% 6-10, 4% 11+
Standard went down by 15 points

This is a huge increase in what agents are making compared to before. When you comment about things that you know very little about it makes you less credible.

Super Prefered and Preferred are not always easy to qualify for. Mainly due to the underwriting only allowing for X amount of HBP or cholesterol medications. More and more doctors are prescribing more and more amounts of medications. This can have a negative effect for people to qualify for.

And speaking with other senior life agents, they estimate maybe 30% of business they write is in preferred/super preferred category

 

[NSRH]

And everyone knows you have a reputation! And I believe you offer 40% contracts! LOL

Charging agents $30+ for a lead at a 40% contract makes it impossible for an agent to make it. Are you defending that?

 

[myinsurebiz]

Charging agents $30+ for a lead at a 40% contract makes it impossible for an agent to make it. Are you defending that?

SL actually has decent commission %'s now. Rates still high on most products tho.

 

[Mattschmidt]

Charging agents $30+ for a lead at a 40% contract makes it impossible for an agent to make it. Are you defending that?

Commissions aren't too bad. But they dock your pay if you don't sell the legacy assurance, and don't pay renewals

Smart to contract with guys direct to the company ( not Greg Hinton) Jay Crockett is one that comes to mind

 

[goillini52]

Commissions aren't too bad. But they dock your pay if you don't sell the legacy assurance, and don't pay renewals

Smart to contract with guys direct to the company ( not Greg Hinton) Jay Crockett is one that comes to mind

What's wrong with Greg?

 

[rousemark]

Just received an invitation to a Senior Life Seminar. On one page they have a rate comparison for 65 F NS, $10K.. They give their rate as $34.31... FEXquotes gives the rate on the Super Preferred as $38.12 .. Which is right? I am sure neither include the $3 per month Legacy Assurance you have to include to get full commission.

They also give some other companies rates using that companies standard rates instead of preferred. For example they give Columbian's rate at $55.30 which is their standard rate instead of the preferred rate $41.85 which is the preferred rate for which 80% of the applicants qualify. For Cincinnati Equitable they show the rate as $77.62 which is close to their graded rate shown on FEX instead of the $42.43 which is CE's level plan rate.

Guess if you misquote your own premium; use your preferred rate against other companies' standard or graded rates, you can have the cheapest plan available.